Morocco: Jorf Lasfar raises $183.5m


Issue 268 - 20 Dec 2013 | 3 minute read

An MD1.5bn ($183.5m) capital increase for Jorf Lasfar Electricity Company (JLEC), owned by Abu Dhabi National Energy Company (Taqa), reminds investors that, even if the economy is under pressure from the government’s huge subsidies bill (mainly for fuel) and the Casablanca bourse has been in the doldrums for several years, the Moroccan market has sufficient depth to mobilise substantial finance for energy and other projects. After the initial public offering (IPO), JLEC’s capital will be MD9bn. The IPO raised MD1bn via the bourse, in Morocco’s biggest IPO since 2008, with 2.2m shares priced at MD447.5 each issued on 10 December.

Tagged with:

Pin Power, Strategy & risk

Pin Morocco

Want to read more?

Subscribe to African Energy

View subscription options

Don't have an account?

Register for access to our free content

An account also allows you to view selected free articles, set up news alerts, search our African Energy Live Data power projects database and view project locations on our interactive map

Register